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A thorough analysis of today’s financial news—delivered weekly to your inbox or via social media. As part of Knowledge Bureau’s interactive network, the Report covers current issues on the tax and financial services landscape and provides a wide range of professional benefits, including access to peer-to-peer blogs, opinion polls, online lessons, and vital industry information from Canada’s only multi-disciplinary financial educator.

This Week’s Edition of KBR:

September Poll

Should Canada have a minimum Basic Income in place for all Canadians?
Yes: 167 votes
No: 215 votes

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Supreme Court: The Line Between Tax Audits and Investigations

In its Backgrounder to the new Section 237.3, which defines reportable tax avoidance transactions that may be subject to the General Anti Avoidance Rules, Finance Canada has assured taxpayers that the provision, is for “administrative purposes only” and therefore it is unlikely that it will be used to incriminate a taxpayer. 

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Donations Sent to Terrorists: CRA Revokes Charity Registration

On September 20, the Canada Revenue Agency (CRA) announced that it would revoke the registered charitable status of the Islamic Society of North America (ISNA) Development Foundation.

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Consider an Individual Pension Plan (IPP)

If you are running an incorporated business you may be in financial position to supplement your RRSP with an IPP, which is a defined benefit pension plan. The IPP offers both maximum tax relief and a maximum retirement pension.

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Tax Court: Graduate Student Can be an Employee Under the EI Act

The Tax Court of Canada (TCC) recently considered whether a graduate student performing research at the University of British Columbia was an employee for the purposes of subsection 5(1) of the Employment Insurance Act.

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How Do I Find the Right Tax Advisor?

Finding a tax advisor to take your family into a tax-efficient future is important.

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